Gnut Oil Flares, Bullion Firms Up, Sugar Dull

Groundnut oil continued to soar, whereas other industrial oils ruled better-to-steady at the wholesale oils and oilseeds market, here yesterday.

It flared up by Rs 7 at Rs 364 per 10 kg on better consumer demand.

Linseed oil and Kardi oil improved by Rs 5 each to Rs 315 and Rs 355 per 10 kg. Cottonseed oil washed and refined qualities shot up by Rs 10 and Rs 9 to Rs 298 and Rs 301 per 10 kg.

Soya oil refined and sunflower oil expeller improved by Rs 8 each to Rs 298 and Rs 348 per 10 kg .

Mowra oil and ricebran oil firmed up by Rs 5 and Rs 2 to Rs 240 and Rs 172 per 10 kg on improved demand and reduced inflows. Imported palmolein firmed up by Rs 2 at Rs 287 per 10 kg on reduced availability of imported oil. Meanwhile, majority of other oils ruled steady.

In the futures section, castor seed March98 contract opened Rs 4 higher at Rs 1169.50 and improved to Rs 1171 a quintal. It declined to Rs 1169.50 before closing at Rs 1171 a quintal.

Kardi seeds and niger seeds improved by Rs 50 and Rs 15 to Rs 1275 and Rs 1425 per quintal.

Sugar: An easy-to-subdued trend was noticed in prices on sluggish offtake and better inflows yesterday. Both the grades ruled dull.

S-30 ruled subdued at Rs 1440/1476 from Rs 1435/1485 a quintal on sluggish consumer demand coupled with moderate arrivals while M-30 eased to Rs 1460/1510 a quintal from Rs 1460/1520.

Sugar for check post deliveries were quoted low at Rs 1430/1445 a quintal for S-30 grade and Rs 1450/1475 for the M-30 grade.

Non-ferrous metals: An easy-to-weak trend was witnessed in the local non-ferrous metals market yesterday. The demand remained sluggish. The undertone remained hesitant. Tin slabs and nickel cathodes declined by Rs 5 and Rs 2 to Rs 335 and Rs 330 a kg respectively. Copper wirebar eased by Re 1 at Rs 117.50 a kg on better arrivals backed by dull industrial demand. All other metals ruled overall steady and were nominally quoted as under: aluminium ingots Rs 82.25, zinc slabs Rs 74.50, lead ingots Rs 40 a kg.

In the scraps section, copper heavy scraps and copper utensils declined by 50 paise each to Rs 106.50 and Rs 95 a kg respectively on dull industrial offtake while brass utensils and brass sheetcuttings eased by 25 paise each to Rs 83 and Rs 88.75 a kg. Aluminium utensils ruled steady and were quoted at Rs 62.50 a kg.

Bullion :A firm to upward trend was witnessed in the local bullion market yesterday. Both the precious metals ruled improved. The undertone of the market remained firm.

Silver .999 and .916 improved by Rs 105 each to Rs 8320 and Rs 8220 a kg.

Both standard gold and 22 carat gold firmed up by Rs 40 each to Rs 4,015 and Rs 3,715 per 10 grams. Gold biscuit prices also flared up at Rs 500 at Rs 47,000 per piece of gold bar.